Lindsay Lohan announced that she would be starring in and producing a new film, Inconceivable, at a press conference at the Sundance film festival on Jan. 19.

Inconceivable will be a psychological thriller and production is expected to begin in March. Emmett/Furla films is behind the $5 million project which will be distributed by Lionsgate's Grindstone division. The film will receive a limited release in New York and Los Angeles before it heads to DVD and VOD.

This was also Lohan's first time attending the Sundance film festival. She was accompanied by producer Randall Emmett, who showered praise on her by stating that the 27-year-old actress was "one of the greatest young actresses of her generation."

While not much else has been revealed about the plot of the film, Lohan did reveal that it revolved around a woman trying to reclaim something she had lost. As a producer, Lohan will be responsible for choosing the director of the film. The actress has also expressed particular interest in getting Jessica Lange to play one of the roles in the film.

Lohan's latest film project was The Canyons, in which she starred opposite porn actor James Deen. The Paul Schrader-directed film didn't fare too well picking up around $55,000 in theaters.

Lohan also got a Razzie -- which celebrates the worst performances in film -- nomination on Jan. 15 for her work in The Canyons.

Lindsay Lohan New TV Series: Reality OWN Show Following Actress On 'Her Journey Through Recovery' Gets Release Date.

The Mean Girls actress' also has a new reality show, titled Lindsay, coming out in August. The series will air on Oprah's TV network OWN and will follow Lohan on "her journey through recovery following a very public period of crisis," according to the show's press release. "In this honest, no-holds-barred account, viewers will see an intimate, unflinching look into the life of one of the world's most sought-after celebrities. Cameras follow Lindsay as she returns to New York, reunites with friends and family, and attempts to build a new life."

Watch a trailer for The Canyons:

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