"We could not be more excited to be re-entering 'The Matrix' with Lana," said Emmerich. "Lana is a true visionary - a singular and original creative filmmaker - and we are thrilled that she is writing, directing and producing this new chapter in 'The Matrix' universe," he added.

In addition to Wachowski, the script was also written by Aleksandar Hemon and David Mitchell. According to sources, the film is expected to begin production at the beginning of 2020. Warner Bros. has been trying for the last of couple years to find a way to get back into The Matrix universe, but a hold-up over producing rights slowed the project down.

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The plot details of the film are currently under wraps, as is how the role of Morpheus will be handled, originally played by Laurence Fishburne. According to sources, Fishburne's role may be recast for a younger take. The three previous instalments - The Matrix, The Matrix Reloaded and The Matrix Revolutions - have collectively earned more than USD 1.6 billion at the global box-office.

"Many of the ideas Lilly and I explored 20 years ago about our reality are even more relevant now. I'm very happy to have these characters back in my life and grateful for another chance to work with my brilliant friends," Wachowski said.

The first instalment of the Matrix franchise released in 1999. It told the story of a computer programmer, who has to fight an underground war against powerful computers who have constructed his entire reality with a system called the Matrix.

Also read: Keanu Reeves surprises family that made 'Breathtaking' sign for him

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