Cheung Kong (Holdings) has obtained Town Planning Board approval to build a pier for cruise liners at North Point. A board spokesman said the proposed cruise-ship terminal was approved at yesterday's regular meeting but he did not elaborate. The pier is part of a hotel redevelopment project on a 100,000 square foot site in North Point, which includes the Fook Lee Building site. The project will be developed jointly by Fook Lee Group and Cheung Kong. Cheung Kong yesterday declined to comment on the approval. But its deputy chairman Victor Li Tzar-kuoi recently claimed that the plan would help boost the tourism industry and job opportunities as the development of the terminal would be completed and operational in about one year. The proposal was first unveiled by Cheung Kong in May. The company was asked by the Planning Department to provide a detailed study on the development in the past few months.