RENIX block? The coolant drain plug should be higher up.
That looks more like the port for the knock sensor (should go into a blind hole, and probably threaded either 3/8"-16 or M10-1.5) down that close to the sump rail.
The block drain should be a bit higher and farther back, and take something like a 5/16" or 8m/m square drive (both are effectively the same.) I've been informed that it's threaded 3/8"NPT, which fact I'll probably take advantage of sooner or later...