Royal Oak School in northwest Calgary is one of 18 new schools built as a P3 project. (CBC)

The province is boasting about 18 new schools in Calgary and Edmonton that were completed a month ahead of schedule under a public-private partnership.

Ray Danyluk, Alberta's minister of infrastructure, handed over the keys to the Royal Oak School in northwest Calgary to Pat Cochrane, head of the board of trustees of the Calgary Board of Education during a photo-op on Tuesday.

A public-private partnership, known as a P3, means the maintenance and repairs of the new schools is the responsibility of the private sector. School boards retain ownership of the buildings and don't have to pay leasing fees.

A contract to build the new schools — which are expected to accommodate 12,000 students — was signed in June 2007.

The new schools saved the province $97 million compared to conventional financing, said Danyluk. He stressed that P3 projects are good value for taxpayers' dollars.

Auditor general to examine P3s

That claim is being examined by Alberta's auditor general who asked last month for an analysis of the provincial government's P3 deals.

Liberal MLA Harry Chase, who represents the riding that includes the Royal Oak elementary school, said he has doubts about the upcoming review.

"The government will never give you a straight comparison between a P3 and a traditional build because they'll hide behind proprietary knowledge," he said. "So we'll have no idea of the true cost over the 30 years. We will not know what the interest rate is charged over that period."

Danyluk said the review should be completed this month.

The Province of Alberta has already entered into a second phase of P3 schools with a contract for 14 new buildings by 2012-13.