The legendary game developer told Gamekyo that the title is indeed in the making and also hinted at the presence of Solid Snake in it. For those who are unaware of Solid Snake, whose real name David, is a fictional character and the protagonist of Konami's Metal Gear series.
Metal Gear is one of the longest running franchises in gaming history, 25 years to be exact. The most recent edition, Metal Gear 4, wrapped up in 2008. The game under discussion is set in a post-project setting, presumably the invasion of Normandy.
In February 2012, Kojima Productions began hiring for the game, which is set for release on PC and "high-end consoles". With next generation consoles from Sony and Microsoft in the works, we aren't sure of whether the game will be made for the current PS3 and Xbox 360 or their newer variants.
Eurogamer reports that Metal Gear Solid 5 will run on the Fox Engine. An internal gameplay demo is yet to be shown but Kojima explained that the Metal Gear Solid 5 would be an infiltration type game. Details regarding the game's completion and date of launch are still a matter of speculation.