The text translates to "Locomotive of the L series, made of silver."

Locomotive Series L, Silver
We present to you the new creation of the Sculpture Workshop of Igor Kolomiychenko – a silver figure of the industrial locomotive series L.
The craftsmen spent 110 hours of manual labor to create it.
In terms of beauty and details, the locomotive is no less impressive than its steel counterpart, made as a unique piece for a gift to a partner of RZD.
The L locomotive (L stands for L. S. Lebedyansky; until 1947, it was P for "Victory"; factory designation - P32, locomotive of the 32nd type) is a Soviet mainline freight locomotive of the 1-5-0 type, developed at the end of World War II in collaboration with the Kolomna Plant and VNIIZHT under the guidance of designer L. S. Lebedyansky and academician S. P. Syromyatnikov, and produced from 1945 to 1955.