During the Annual Shareholders Meeting of Walt Disney Co., the firm has officially announced its plans to make 'Frozen 2'.Facebook/Frozen

Once again, Disney character Queen Elsa from Scandinavian kingdom of Arendelle will be back onscreen to entertainment her fans with a new sequel of the popular animated movie "Frozen".

During the Annual Shareholders Meeting of Walt Disney Co., the firm officially announced its plans to make "Frozen 2". Later, the company also shared the news on Facebook and revealed that the film is in development stage.

"It's of-f-f-f-f-icial: "Frozen 2" is in development at Walt Disney Animation Studios with directors Chris Buck and Jennifer Lee and producer Peter Del Vecho, the Oscar-winning film making team behind 'Frozen," read the post.

However, "Frozen" fans will have to wait a little longer to know more details about the release date and production details of the new sequel as the company has not yet decided on it. 

"We enjoyed making 'Frozen Fever' so much and being back in that world with those characters. Jennifer Lee and Chris Buck have come up with a great idea for a sequel and you will be hearing a lot more about it and we're taking you back to Arendelle. We are so excited about that," Variety quoted John Lasseter, chief executive officer of The Walt Disney Company as saying.

Apart from being the highest grossing animated film of all time with $1.3 billion in box office earnings, "Frozen" won two Academy Awards, a Golden Globe Award, two Critics' Choice Movie Awards, a BAFTA Award and two Grammy Awards.

The story of the 3D animated movie of 2013 revolves around a fictional princess, who has the magical ability to manipulate snow and ice.