Why has this Bridge Cost £1.6 Million?

I have just read this article in the pioneer and i am wondering why it has cost £1.6 million.

I have no problem with the bridge being built, but why has it cost so much?

The Maesdu bridge is costing from £1.5 million to £2.3 million, but Maesdu bridge is being demolished and rebuilt for use by cars, buses and lorries as well as pedestrians and cyclist.

Was it built to budget?
If it was built to budget, who approved the budget for the bridge?
Is the £1.6 Million part of a bigger scheme that included the bridge?

Call me a simpleton if you like, but i can't see how a bridge like that can cost £1.6 Million.