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I think the key point is that they already have a right of way reserved for cycling use, so even if they all need to be rebuilt the cost is merely that of breaking up and laying down concrete. Generally any bike infrastructure project has to contend with the politics of taking space away from cars.

Building a new cycle lane has all of the same costs getting it approved as a new road does - planning, buying the land, landowner negotiations, navigating planning permissions, public consultations etc. A bit of digging and tarmac on an existing one avoids most of that, it's just a case of finding the money - and the national government has announced a funding pot that councils can apply to.

Having the land and access rights is a lot of the cost. Often there isnt much space by new roads.