HARBIN, Dec. 7 -- A Chinese aircraft manufacturer, the Harbin Aircraft Industry Group (HAIG), announced on Monday that it has signed a contract to sell 15 Y-12E aircraft to a Russian company, HAIG announced on Monday.

The company, a subsidiary of the Aviation Industry Corporation of China (AVIC), said it signed the contract with Fly AVIA FZE, which provides aviation equipment, repairs and after-sales services for the Russian market.

The aircraft will be delivered in 2017 and the contract is worth an estimated total of 550 million yuan (about 87.3 million U.S. dollars), according to the statement.

The short-haul Y-12 series aircraft are used mainly for passenger and cargo transport, geological exploration, ocean monitoring and agriculture.

It has obtained certification in more than ten countries including Russia, the United States, France and the United Kingdom.