An accidental release of hazardous chemical can happen in industries during its production, storage, and transportation. The consequence assessment is a method of analyzing the impact of hazardous chemical release into the environment. It includes the identification of threat zone and its impact on people. Consequence assessment is a primary part of risk assessment which is essential for the development of mitigation strategy. In this study, a consequence assessment of anhydrous ammonia release from a storage facility was conducted and the mitigation strategy was developed. A hypothetical accidental release of ammonia from a storage facility in a chemical process industry was assumed. The evaporation of ammonia pool formed by the release was estimated using CFD analysis and the dispersion of the ammonia was found out using ALOHA. Three different wind speed was taken for analyzing the consequences. Probability of death of people living in the threat zone was estimated by probit analysis. A mitigation strategy was developed based on adsorption principle using modified carbon nanoparticles. © 2018 American Institute of Chemical Engineers Process Saf Prog 37: 525–534, 2018