Thai shipping firm Thoresen Thai Agencies plc will invest in a new company, Qing Mei Pte Ltd, to develop a coal mining project in Indonesia. Incorporated in Singapore, Qing Mei will be a partnership between Thoresen Thai's wholly-owned subsidiary Soleado Holdings Pte Ltd, Soleado associate Merton Group (Cyprus) and Britmar (Asia) Pte Ltd, with a share capital of $4.84 million.