The spin-off is now under development by the Paris-based production company Wild Bunch, reported Contactmusic.
A screenplay for the sequel has already been written by Irvine Welsh.
However, one of the major changes Wild Bunch will be making is the director, the controversial Korine will not be returning to the project.
Swedish filmmaker Jonas Akerlund, who is credited for Lady Gaga's music videos 'Paparazzi' and 'Telephone', will replace him.
The original 'Spring Breakers' boosted an ensemble cast that included James Franco, Selena Gomez, Ashley Benson and Rachel Korine.