"Now they're going in the right direction. I think this year the script will be finished and we will be able to go into pre-production."
The Last Stand actor starred in the first three instalments of the sci-fi franchise.
He is expected to play a role in the fifth movie, but it is not yet confirmed whether it will be a major part.
Schwarzenegger also revealed he turned down a lead role in the 1996 film The Rock after he was handed a substandard script.
"Jerry Bruckheimer came to me with the script for The Rock that Sean Connery and Nicolas Cage ended up doing. I was offered the Nicolas Cage part, but it was 80 pages, there were scribbles and hand-written stuff saying, 'This is s**t', let's not do this page, let's rewrite this'.
"I looked at this script and said, 'What is that? I can't commit to that. Why don't you get your act together and come back with a good script?"
Producers responded to that by hiring Nicolas Cage for the part, he said.
- Herald Online