The Large Zenith Telescope is a zenith-pointing telescope with a 6-meter diameter rotating mercury mirror. Located in mountains near Vancouver, Canada, it is expected to see first light in 1998. Equipped with a low-noise drift-scanning CCD camera, the telescope will survey a 17-arcmin-wide strip of sky using a set of medium-band filters. The data are expected to provide spectral energy distributions and photometric redshifts for over a million galaxies which will form a base for studies of galaxy evolution and large-scale structure.