Major infrastructure initiatives in southern Madagascar are set to enhance Evion Group NL (ASX:EVG, OTC:EVIGF)’s development pathway at its flagship Maniry Graphite Project, improving logistics, reducing costs and reinforcing the company’s European Union (EU)-aligned development strategy.
Maniry project location in Madagascar.
Strategic access to key export hubs
The RN10 national highway rehabilitation, launched by Madagascar’s President Andry Rajoelina and funded by the World Bank, directly benefits Maniry by upgrading a 416-kilometre route that links the project’s regional hub of Ampanihy to key arterial roads.
President Rajoelina emphasised the importance of delivering on infrastructure commitments, stating: “We have not just made promises. We set ambitious goals, and we will meet them.”
Once completed, the highway will streamline access to the ports of Toliara (180 kilometres northwest) and Port d’Ehoala (Tolanaro, 225 kilometres southeast), lowering transport costs, improving equipment mobilisation and facilitating year-round operations — particularly during the wet season.
The RN10 will be constructed to international standards, featuring:
- A 7-metre-wide carriageway with 1.5-metre shoulders
- 30 new or rehabilitated bridges
- A layered pavement structure comprising a 30 cm foundation, 20 cm base, and 5 cm surface layer.
The road upgrades are expected to strengthen Evion’s position in securing permitting and offtake agreements. They also align with the company’s EU development funding strategy, underpinning a grant application to support its vertically integrated graphite supply chain plans.
The RN10 rehabilitation complements broader regional investment in Madagascar’s critical raw materials sector. It is being redeveloped under the World Bank’s “Connecting Madagascar for Inclusive Growth” initiative with a total investment exceeding US$400 million.
The project includes 30 new or refurbished bridges and a three-layered pavement structure built to international standards. Construction is scheduled over three years, with work underway on the first 205 kilometres and the remaining section due to commence later this year.
EU-backed urban logistics in Toliara
In parallel, the European Union has funded the newly inaugurated Kiembe Boulevard in Toliara, connecting the city’s port and airport. This initiative provides a direct freight corridor, bypassing the congested city centre, and further strengthening regional logistics aligned with Evion’s supply chain goals.
These developments mark a significant step toward establishing Maniry as a reliable source of graphite for global electrification markets.
Maniry Project targets global electrification markets with high-grade graphite output
The Maniry Project aims to supply high-grade graphite to rapidly growing global electrification markets, particularly battery anode manufacturers. Madagascar ranks as the largest producer and exporter of natural graphite outside China.
A Definitive Feasibility Study (DFS) completed in 2022 confirmed Maniry’s potential to deliver up to 60,000 tonnes of graphite concentrate annually over a 21-year mine life. The project demonstrated a pre-tax Net Present Value (NPV) of US$263 million, using an 8% discount rate.
Evion Group is advancing plans to supply fine flake graphite from Maniry to its Battery Anode Material Project in Germany, which targets production of up to 30,000 tonnes per year to support Europe’s energy transition goals.
In parallel, Evion has established Panthera Graphite Technologies — a 50:50 joint venture with India-based Metachem Manufacturing Co, a producer with more than two decades of experience in expandable graphite. Panthera’s operations are based in a Special Economic Zone near Pune, with access to key transport corridors. Production began in the fourth quarter of 2024, and the JV completed its first graphite shipment in March 2025.