US auto and industrial component major Timken Company on Thursday said it was looking at setting up a manufacturing facility in India for needle roller bearings to tap the growing domestic market.

The company, a big player in tapered bearings, alloy steels and related products, said the investments could be around $25-50 million.

"We are currently talking to bike majors Hero Honda, Suzuki and LML as well as carmakers Maruti and Tata Motors for this. A final decision would be taken once we reach critical mass," Timken India managing director Gordon Robinson told PTI at the auto expo in New Delhi.

Robinson said the company is targeting revenues of around $55 million from Indian operations this year. Indian operations are likely to grow at over 20 per cent in 2006, he said.

Timken India Limited is a subsidiary of US-based The Timken Company.