Newly reinvigorated building markets on the eastern seaboard are becoming the focus of opportunities in an Australian engineering market that is being severely impacted by a capital expenditure slowdown but is seeing green shoots emerging in a number of areas.

To be sure, the pull-back in the resources investment is biting hard. In May, Worley Parsons announced write-offs of $125 million and 2,000 further job cuts as it resizes and restructures to adjust to the reality of weaker mining activity. Major civil contractors in Queensland are being urged to look…