Indusi (induktive Zugsicherung, inductive train security) coil typically found on Germany's tracks at the location of signals. This one is just a trackside object without function. Check out the other one (Indusi Coil as Lever, KUID 74744:32002) which acts as a point (switch) lever. You will find the indusi coil in Track/Trackside Mode/Germany/Trackside.