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7.11.4 With an extension to Star Ferry only, the total traffic coming to the southern tip ofKowloon by KCR would increase by about one third, or 90 000 passengers per dayin 1996, dividing fairly evenly between the two termini of the line but slightlyfavouring Star Ferry by 2001. This split in traffic indicates that perhaps some of thesuburban trains under this arrangement should continue to terminate at Hung Horn.7.11.5 Total traffic volumes would increase sharply with an extension across the harbour,but the number of passengers terminating at Hung Horn would decrease. It is clearthat a KCR extension across the harbour could give quite significant relief to theexisting MTR cross-harbour link.Financial I'Economic Evaluation7.11.6 The financial evaluation indicates that passenger revenues could cover operatingcosts and depreciation for an extension to the Star Ferry terminus in Kowloon, butreturn on investment would be rated LOW. This is essentially because little more canbe charged to KCR passengers for the short additional travel to Star Ferry over theexisting fare for the trip to Hung Horn.7.11.7 Financial results for the extension across the harbour to Sheung Wan are also ratedLOW, and come at the expense of MTR and ferry revenues. Effectively, a majorsegment of passenger revenues for the cross-harbour movement would transferto KCRC from MTRC. MTRC would experience little cost saving, despite losingrevenues, since maximum service is already being provided and would not be cutback for the remaining traffic.7.11.8 An economic evaluation was carried out for the Star Ferry extension only. A HIGHreturn was indicated with full time savings included. With time savings reduced, thereturn was insufficient to justify the project by 2001. However, the economicevaluation does not fully recognise limitations on capacity on the IVITR Nathan RoadCorridor and this factor has to be included in reaching final conclusions on the KCRextensions.Conclusions7.11.9 The KCR extensions could attract considerable additional traffic to the KCR line.This would have the effects of relieving pressure on the main KCR/MTR interchangeat Kowloon Tong, taking traffic from the heavily loaded MTR Nathan RoadCorridor, and providing direct rail access to Tsim Sha Tsui East.7.11.10 The alignments of the possible KCR extensions pass through the lowest densitycorridor of Kowloon and with few stations. Considering the route from KowloonTong to Tsim Sha Tsui including a KCR extension to Star Ferry Station, the KCRwould have just two intermediate stations, one at Mong Kok and the other at TsimSha Tsui East compared with five for the MTR. Therefore, investment of funds in anextension of the KCR, while improving the performance of KCR, would be to someextent handicapped by the inadequacies of the KCR alignment. In other words, theremay be more effective ways of investing money in urban rail development.7.11.11 The KCR extension to Star Ferry would take up the East Kowloon Line reserve andwould therefore prevent that line being constructed on its currently plannedalignment. Therefore a decision on the KCR Star Ferry extension must be part of amore wide-ranging plan for urban rail services in general. This is discussed further inSection 7.15 of this Chapter.7.12 KCR Line: Sha Tin to Kwai Fong7.12.1 A freight line has been proposed to connect the existing KCR main line at Sha Tinto the container port at Kwai Chung. CTS-2 looked at the possibility of runningpassenger services on this line passing under the MTR station at Kwai Fong and onto the Rambler Channel area.142