Production I.G is the studio which made Oshii Mamoru's 1995 original Ghost in the Shell film, his sequel Innocence, and the two Ghost in the Shell: Stand-Alone Complex television series.
No details are shared yet about the nature of the new project itself, not even whether it will be a series or a film. The two co-directors are named though: Kamiyama Kenji and Aramaki Shinji, and these are two well-known veterans.
Kamiyama Kenji was the writer/director of Ghost in the Shell: Stand-Alone Complex and the magnificent Eden of the East series and films. Aramaki Shinji is a technical designer, who as a director is primarily known for the CGI Appleseed films, the Space Pirate Captain Harlock film and the Appleseed XIII series.
If the collaboration uses out the best sides of both directors, we might be in for a treat. Especially Kamiyama's return to the franchise is very good news indeed. Fans have been clamoring for a third season of Stand-Alone Complex for over a decade already, so... who knows? Rest assured we'll be keeping our eyes on this one.
(Thanks to loyal reader omnisemantic1 for alerting me!)